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Temasek selling 700 million pounds of sterling bonds

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According to Reuters, “Singapore state investor Temasek Holdings is selling 700 million pounds ($1.1 billion) worth of bonds to diversify its funding sources as it makes its foray into the sterling-denominated debt market.

Temasek will issue 200 million pounds of 12-year debt at 97 to 100 basis points above gilts and 500 million pounds of 30 year at 92 to 95 basis points above gilts, according to a term sheet seen by Reuters.

“Neither size will change,” according to the term sheet that was distributed to potential investors.

The Temasek bonds, rated AAA by both Moody’s and Standard & Poor’s, will be priced before the end of London trading, said a source briefed on the issue.

Sources with knowledge of the deal said the Temasek fundraising was not linked to any investment in BP Plc or another British firm.””

Read more: Reuters

Senior Personnel Shuffle at Khazanah Nasional

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Malaysia’s Khazanah Nasional Berhad has elevated a number of investment officers in its Senior Leadership Team as part of its regular renewal of its upper management. The changes – which went into effect on April 1, 2018 – are in line with its ongoing leadership succession initiative, and supplement Khazanah’s ongoing institutionalization efforts, according to a press release.

Amran Hafiz Affifudin, who has served as the sovereign wealth fund’s Director of Investments since 2013, has been promoted to Executive Director of Investments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BC Partners and OTPP Agree to Recap GFL Environmental

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Private equity firm BC Partners and the Ontario Teachers’ Pension Plan (OTPP) are leading an investor group to recapitalize Toronto-based GFL Environmental Inc. The transaction implies a total GFL enterprise value of approximately US$ 5.125 billion. GFL operates in the world of North American waste – or perhaps known as environmental solutions. GFL runs a network of more than 140 facilities across Canada and in Michigan. GFL was contemplating an initial public offering early in January, having hoped to raise US$ 800 million.

The deal is expected to close by June 30, 2018.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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FSDEA Attempts to Get Control of Mauritius Frozen Assets

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With new leadership at the helm of the Fundo Soberano de Angola (FSDEA), new plans are being discussed on asset allocation. Mauritius government officials had froze assets of FSDEA’s main manager Quantum Global Group. A unit of Quantum Global Group managed seven investments funds on behalf of FSDEA.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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